Redpath Insights

Tax Reform Act Impacts on the Construction and Real Estate Industry

October 30, 2018 โ€”On December 22nd, 2017 the Tax Cuts and Jobs Act was signed into law. The bill makes major changes to the individual, corporate and international tax code which will have a far-reaching impact on construction companies,...

It's the Final Countdown for Contractor Revenue Recognition Standards

October 18, 2018 โ€”The new revenue recognition standard will be a significant change to the accounting practices of most companies and is intended to provide improved financial statement comparability across both industries and companies....

Opportunity Zones: New Tax Deferral Opportunity

August 28, 2018 โ€”There is an exciting tax-saving opportunity for those investing in designated zones across the country, including within our own metro area. These zones are designed to encourage economic development and create jobs in areas with...

IRS Law Changes on Home Equity Interest Deductions

March 1, 2018 โ€” The Tax Cuts and Jobs Act passed in December changed the rules regarding the deductibility of mortgage and home equity loan interest. Prior to the law change interest on up to $1,000,000 of home acquisition debt and interest on up...

Choice of Entity after the Tax Cuts and Jobs Act

January 31, 2018 โ€” Last November, we examined the potential impact of Tax Reform on Choice of Entity. Since the Tax Cuts and Jobs Act was signed into law on December 22, 2017, taxpayers have been working through the changes to try and understand...

Changing Revenue Recognition for Construction Companies

November 20, 2017 โ€” The construction industry has long been held to a different standard of accounting for revenue. This is because of the nature of long-term contracts. For years, bankers and accountants have lobbied construction contractors'...

Is My Overhead Burden Really That Important?

August 28, 2014 โ€“ In todayโ€™s competitive construction environment, it is imperative that construction contractors are able to accurately estimate costs associated with a contract.  Without an understanding of what their overhead burden is,...

Real Estate Professional Rules Confirmed

The IRS in Chief Counsel Advice confirmed a position I have taken and for which I have advocated throughout the years.  Many professionals disagreed, but now it is clear. Generally, under Internal Revenue Code (IRC) section 469, real estate rental...